Welcome to our dedicated page for GOLDRICH MINING CO news (Ticker: GRMC), a resource for investors and traders seeking the latest updates and insights on GOLDRICH MINING CO stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect GOLDRICH MINING CO's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of GOLDRICH MINING CO's position in the market.
Goldrich Mining Company (OTC:GRMC) has announced a $20 million strategic financing package through Castle Placement, The package consists of two components: a $10 million Public Offering of up to 200 million common shares at $0.05 per share, and $10 million in Forward-Gold Sales at $1,200 per ounce. The funds will be used to restart mining operations at the Little Squaw Creek placer mine in Alaska, with operations expected to resume in 2025, based on an Initial Assessment Report by Global Resources Engineering.
Goldrich Mining Company (OTC PINK:GRMC) has announced a settlement agreement that resolves long-standing arbitration issues with NyacAU, LLC and other parties. The settlement paves the way for Goldrich to secure financing for hard-rock exploration and initiate discussions to resume placer production at the Chandalar mine, previously one of North America's largest placer mines. Goldrich will pay $105,000 to NyacAU by April 30, 2023, and has the option to assume mining permits at the Chandalar site, requiring a further $1,000,000 payment by April 30, 2024. The settlement alleviates operational constraints for Goldrich as it aims to enhance shareholder value.
Goldrich Mining Company (OTCQB:GRMC) has received a drill permit from the Alaska Department of Natural Resources for a multi-year diamond core drill program at its Chandalar Property. The initial phase will involve 13,000 feet of drilling, starting in May 2022, with the total program reaching 25,000 feet. The drilling targets are near historic placer deposits, indicating potential gold sources. The company's focus is on hard-rock gold exploration, which management believes holds significant value relative to its placer assets.
Goldrich Mining Company (OTCQB:GRMC) has submitted a permit application to the Alaska Department of Natural Resources for a 25,000-foot diamond core drill program at its Chandalar Property. This project, pending financing, aims to commence an initial 12,000-foot program in May 2022. The targeted area overlaps the historically significant Little Squaw Creek placer deposit. Geologic evidence suggests a potential hard-rock gold source similar to major Alaskan deposits. The drilling will involve six pads, with access facilitated by existing roads, minimizing infrastructure needs.
Goldrich Mining Company (OTCQB:GRMC) announced the results of an independent Initial Assessment Report for its Chandalar Mine in Alaska. The report indicates a robust after-tax NPV of $64 million at a base gold price of $1,650/oz and an impressive IRR of 139%. The project is expected to generate $25 million in cash flow by year two and has a payback period of 1.3 years. Capital costs are estimated at $25.6 million, with all-in sustaining costs of $799/oz. The mine's lifespan is projected at 7 years, with potential for extension due to high resource growth. The report marks a significant milestone for Goldrich shareholders.
Goldrich Mining Company (OTCQB:GRMC) has successfully uplisted to the OTC Markets Group's OTCQB Venture Market, effective March 19, 2021. This transition is anticipated to enhance market exposure, broaden the shareholder base, and improve access to capital for the company. OTCQB is recognized by the SEC, ensuring current public information for investors. Goldrich focuses on developing the Chandalar gold district in Alaska, controlling a 23,000-acre land package of gold targets and historic mines.
FAQ
What is the current stock price of GOLDRICH MINING CO (GRMC)?
What is the market cap of GOLDRICH MINING CO (GRMC)?
